By Dakin Campbell
Lloyd Blankfein’s roots are letting him down.
Goldman Sachs Group Inc.
traders turned in their worst first-half performance since Lloyd
Blankfein rose from that business to become chief executive officer in
2006.
Revenue from trading stocks and bonds in the first six
months of 2017 tumbled 10 percent, dropping to the lowest level since
before Blankfein took over from Hank Paulson 11 years ago.
Second-quarter revenue from the fixed-income unit plunged 40 percent.
“A mixed operating environment persisted into the second quarter as
conditions continued to support underwriting and M&A, while
constraining certain market-making activity,” Blankfein said Tuesday in a
statement.
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Source: Bloomberg Markets (via The Empire Report)
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